The overall industrial production index (IIP) of the city rose by 7.85 percent.
The department attributed the growth to a stable consumption market and more investment in semiconductors, chip technology, and electronic boards.
Export turnover of computers, electronic products and components within the first 10 months reached USD 7.94 billion, up 17.6 percent year-on-year, accounting for more than 30 percent of total export value excluding crude oil.
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The electronics production industry in HCM City has seen significant growth, according to the HCM City Department of Industry and Trade. |
To compete with imports, enterprises in the field have invested in machinery and technology to produce products for supporting industries.
Despite positive results, Tran Quang Ha, deputy head of the Ministry of Industry and Trade’s Industry Department, said that the supply capacity of enterprises in supporting industries was still limited.
Of 200 suppliers for Samsung, only 35 Vietnamese enterprises are level-1 suppliers, while the rest are mostly foreign enterprises. Vietnamese enterprises mostly supply packaging with simple details.
Le Nguyen Duy Oanh, deputy director of the city’s Center for Supporting Industry Development, stressed the importance of encouraging supporting enterprises to be deeply involved in the supply chain of FDI enterprises.
The city has created investment stimulus programs to help enterprises invest in modern machinery and equipment, expand production, and improve quality of products, among other benefits.
The city has also connected enterprises with banks to resolve capital access for the industrial sector in general and supporting industries in particular.
Enterprises in supporting industry have been encouraged to take part in courses that train laborers and enhance their competitive advantage in the market.
Source: VNA